Cryptocurrency token called MANA is used in the Decentraland.
Decentraland is a virtual reality space that allows its users to buy/sell, rent and manage virtual property called LAND. It was created by Argentines Ari Meilich and Esteban Ordano in 2015. Initially, it was just a pixel grid that allocated pixels to users through a proof-of-work algorithm, which later evolved into a 3D world. In this Metaverse, users can create their LAND. Decentraland is designed for creatives, gamers, students and online communities. The project, according to many analysts, is quite promising. First of all, this is a new approach to virtual reality, which is already of interest to many users.
Oficial mode of payment in Decentraland, the MANA is the native crypto of the game that one must possess and transact in to pay for goods and services that they choose to avail in the game.
MANA’s technical indicators show that the token is also performing well. The advantage of MANA in comparison with the BTC is its low cost. But since MANA is not one of the largest currencies by capitalization, it is not among the instruments on Forex.
MANA key points
- Decentraland uses the Ether blockchain to store information about the ownership of land
- Transactions are made on the ETH smart contract
Conclusion
The metaverse project is promising and its tokens keep gaining attraction of investors because they have a much smaller market capitalization, hence bigger potential. The number of SAND and MENA holders will increase as crypto investors are seeking to invest in Metaverse tokens due to such giants as Facebook, Apple, Google, Microsoft increased focus on building a metaverse.
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